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At Mahindra Ideal Finance, we’re more than just a financial institution—we’re your trusted and ideal partner on your journey towards financial success. Mahindra Ideal Finance is one of the fastest-growing Non Banking Financial Institutes in Sri Lanka. Our commitment to integrity, transparency, and customer satisfaction drives everything we do. Whether you’re seeking gold loans, vehicle financing / leasing, business loans, you can rely on us to offer tailored services that meet your needs. We welcome you to experience the difference at Mahindra Ideal Finance.

Our History

The rebranding of the company to Mahindra Ideal Finance Limited (MIFL) has laid the foundation upon which the two joint venture partners, Mahindra Finance and Ideal Group, have built their vision of positioning Mahindra Ideal Finance as one of the leading licensed finance companies (LFC) in Sri Lanka. Mahindra Finance’s investment has already garnered strong recognition for the company, reflected our credit ratings by Fitch Ratings Lanka Limited.

 

Mahindra Ideal Finance, will further enhance our customer value proposition by expanding new range of products. These will include Gold Loans, leases for personal vehicles, commercial trucks, two- and three-wheelers, business loans, and personal loans. Additionally, our rapidly expanding branch network across the island ensures close proximity to our customers’ locations, facilitating easier access to our services.

Our Vision
To be the ideal partner, enriching lives and creating wealth for our customers.
Our Mission

Being the :
Most credible Trustworthy and Professional finance institution with a heart Which will deliver financial favours to our customers.

Enhancing :
Professionalism & lives for our employees to be the most sought after employer.

Increasing shareholder wealth :
Make them proud to be a shareholder of the Company.

Integrity
We uphold the highest standards of honesty, transparency, and accountability in all our operations, fostering trust and credibility.

Our
Core
Values

Guiding principles that define our culture and drive our actions every day.
Excellence
We attract and retain the best talent, promoting flexibility, diversity, and comprehensive feedback responses to build a superior workforce.
Customer-Centricity
We prioritize serving our customers well, ensuring every aspect of MIFL fosters their success through simplicity, focus, and engagement.
Milestones

Mahindra
Ideal Finance

2012/13

IFL started its operations in March 2012 with a deposit base of LKR 48.8 million and a total of LKR 285.9 million, primarily offering finance lease, hire purchase, and micro-leases as its main products.

2013/14

The SME sector was prioritized in lending operations, with the opening of branches in Anuradhapura, Elpitiya, Embilipitiya, Jaffna, and Kurunegala, along with a service center in Bandarawela.

2014/15

By the close of the year, our revenue totaled LKR 175 million, with a portfolio valued at LKR 737 million, a deposit base of LKR 170 million, and a net profit of LKR 28.9 million achieved.

2015/16

In October, IFL achieved recognition as a financially sustainable enterprise by Fitch Ratings, earning a stable B+(LKA) rating, while also introducing Gold loans, Business, and Personal Loans.

2016/17

The Monaragala branch was established within the year, with an income of LKR 391 million, a portfolio worth LKR 2 billion, and a net profit of LKR 57.6 million.

2017/18

Jaffna and Monaragala branches were relocated to serve our Customers better.

2018/19

Kandy and Matara branches were opened that increased our branch strength to ten.

2019/20

In the milestone section of the website, MMFSL achieved a significant partnership with IFL, becoming its second-largest shareholder, while recognizing IFL's recognition as a Great Place to Work for.

2020/21

During the pandemic, IFL expanded with new branches, achieved LKR 1 billion in gold loans, grew its deposit base, revenue, and net profit. It received positive recognition from Fitch Ratings and was awarded "Great Place to Work" for the second year.

2021/22

In July, MMFSL acquired a 58.20% stake in MIFL, becoming its parent company. Despite the pandemic, MMFSL opened eight new branches. Celebrating a decade in March 2022, MMFSL rebranded IFL to MIFL and received a stable AA- Outlook from Fitch Ratings in July 2021.

2022/23

Fifteen new branches were established, spanning across the entire country. Vavuniya and Gampaha Elpitiya and Kurunegala Branches were relocated BB- (lka) rating from Fitch Rating in June 2020. Awarded a Great Place To Work for the 2nd consecutive year. IFL recorded the highest net profit of LKR 184.4 Mn